SHANGHAI, Dec. 7 (SMM) – Base metal prices are expected to remain weak this week, and with bigger volatility in the downward track, Shanghai Metals Market foresees.
“Copper market, in particular, will see bigger volatility along with recent declines in copper inventories on the LME and SHFE,” SMM says.
China’s November inflation and US consumption results should be watched during a light data calendar week, and two reports on crude oil market, to be released by OPEC and IEA, will also affect the market, SMM adds.
Key Macroeconomic Indicators for Base Metal Prices (2015-12-7)
Copper: 34,600-35,200 yuan per tonne
Aluminum: 10,300-10,450 yuan per tonne
Lead: 12,730-12,900 yuan per tonne
Zinc: 12,450-12,650 yuan per tonne
Tin: 83,500-85,000 yuan per tonne
Nickel: 68,300-71,000 yuan per tonne
Note: All prices above are forecasts for most actively-traded contracts on each market.
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